The point is the cinematography isn't something really remarkable - there's no "Oh, that's a fantastic shot" reaction. It's just all capable filmwork, nothing outstanding, nothing innovative. That's certainly good and fine, but I think these sequences would be much better if there was some better talent directing where that camera was pointed.
I think there are quite a few, at least in the Dalton movies, such as the "I got the message" scene in TLD. I still believe AVTAK through LTK could have been shot better, but to me it seemed John Glen was at least more "in sync" with Dalton's Bond.
With FYEO and OP, I think the scenery was exotic enough for me that any weaknesses in cinematography were overlooked. That could even apply to many of the other Bonds.
Marginally? Adjusted? I'm going by the actual figures. AVTAK made $50 million US, LTK made $40 million. $10 million more is not marginal.
AVTAK made $50 million domestic, but LTK only $34 million. However, AVTAK was $152 million overall, and LTK $156 million. So AVTAK only made more when adjusted (a fairer comparison, to be sure), and then only by no spectacular amount.
Still, the point was that AVTAK's performance as worst to that point on the tail-end of a six-year decline in ticket sales would be enough to make me want to evaluate the direction of the franchise were I to be calling the shots in 1987 (as the OP proposed). If the suggestion was 1989, then LTK would be in my immediate memory instead.